Four-Unit Multifamily
For Sale
$809,900
366 E El Paso Avenue 101, Fresno, CA 93720
Well-maintained four-unit multifamily on one lot with two structures, with all units currently occupied.
Property Size4,032 SF
Price / SF$200.87
Days on Market102
Property Features for 366 E El Paso Avenue 101
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1981
Tenancy
Multi
Listing Agency:
eXp Realty of Greater Los Ange
(559) 743-5245
Listed By:
Maricruz Chapa · License #DRE #02152042
(559) 743-5245
Source:
Exitrealty
Added: May 1
Changed: Aug 7
Last Checked: Aug 10 at 5:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty of Greater Los Ange
Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily property is located on a single lot and features two separate structures. The configuration includes one detached unit (Unit 101) and a second building with Units 102, 103, and 104, creating a flexible layout for tenants and operations.
Several units have been updated. Unit 101 includes upgraded bathrooms with tile flooring, while Unit 102 offers an updated kitchen and bathrooms. Units 103 and 104 feature newer kitchen cabinetry with granite countertops, along with LVP flooring throughout the living areas and bedrooms.
The property provides immediate rental income with four occupied units.
Several units have been updated. Unit 101 includes upgraded bathrooms with tile flooring, while Unit 102 offers an updated kitchen and bathrooms. Units 103 and 104 feature newer kitchen cabinetry with granite countertops, along with LVP flooring throughout the living areas and bedrooms.
The property provides immediate rental income with four occupied units.
Key Highlights
- Well‑maintained 4‑unit multifamily on one lot with two separate structures (Year Built: 1981).
- Current configuration includes one detached unit (Unit 101) plus a second building with Units 102, 103, and 104.
- All 4 units are currently occupied, providing immediate income.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,556
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$931,120
$931.1K
Cap Rate 7%
$665,086
$665.1K
Cap Rate 9%
$517,289
$517.3K
Market Conditions
NOI Build-Up for 4,032 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.2K $17.40/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$66.5K $16.50/SF
− OpEx
−$20.0K −$4.95/SF
NOI
$46.6K $11.55/SF
Area
ZIP 93720
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$931,120
Cap Rate 7%
$665,086
Cap Rate 9%
$517,289
Alternative Uses
Best Use
Multifamily LT 5
$665.1K
$582.0K – $775.9K
NOI $46,556 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$615.3K
$538.4K – $717.8K
NOI $43,068 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$831.1K
$727.2K – $969.6K
NOI $58,177 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,975
Businesses Nearby
Explore this area
Business Placement
Demographics for 93720, CA
47,814
Population
19,738
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
4,598
Density / Sq Mi
$103,636
Median Household Income
$56,888
Median Earnings
$1,990
Median Rent
$457,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit multifamily on one lot with two structures, with all units currently occupied.
Where is this quadplex located?
The property is located at 366 E El Paso Avenue 101 Fresno, CA.
What is the asking price?
The asking price for this property is $809,900.
What are key features of this property?
This property features: Well‑maintained 4‑unit multifamily on one lot with two separate structures (Year Built: 1981).; Current configuration includes one detached unit (Unit 101) plus a second building with Units 102, 103, and 104.; All 4 units are currently occupied, providing immediate income.
